UK-based digital payments fintech Wise is further expanding into Southeast Asia through Thailand via its most recent partnership with Bangkok-based payments solutions fintech T2P co.

Under the partnership, Wise will provide its platform and infrastructure solution for banks, fintechs and enterprises to T2P customers, with the aim of bringing them, according to Flora Shi, Wise’s Singapore-based senior implementation manager, “faster, cheaper and more transparent international money transfers”.

With the integration of the platform on T2P, through its DeepPocket app, the fintech becomes the first fintech in Thailand to provide international money transfers to their customers without exchange rate mark-ups or hidden fees as the partnership allows DeepPocket users to send funds directly from the app.

Currently, DeepPocket customers can transfer funds from Thai baht to 16 currencies, including US, Singaporean and Australian dollars, pounds sterling, Malaysian ringgit and Indian rupees. Wise defines instant transfers as those completed within a span of 20 seconds or less.

“With the digital remittances market in Thailand projected to grow by 5.71%.” notes Samarth Bansal, Asia-Pacific general manager of Wise’s platform, “there is a growing need for people to send money internationally in multiple currencies quickly and affordably.”

Taweechai Pureetip, CEO of T2P, adds that the partnership will allow its users “to enjoy international transfers at the mid-market rate, while also enjoying DeepPocket’s user-friendly application interface. Our focus has always been on building a one-stop financial platform for our customers, and this collaboration is a step in the right direction.”

The partnership will also be helpful, T2P notes, to any customer with cross-border payment needs, such as parents who are sending money to their children studying abroad or expats transferring funds back home.

Wise, which has been slowly expanding its footprint in Southeast Asia, in February launched Wise Pilipinas in the Philippines, and has appointed Manila-based Isabel Ridad as its board chair.